Announcement • Jun 17
Tower Resources Ltd. announced that it expects to receive CAD 1.72 million in funding Tower Resources Ltd. has announced non-brokered private placement to issue 6,000,000 flow-through common shares at a price of CAD 0.18 per FT Share for the gross proceeds of CAD 1,080,000 and 4,000,000 units at a price of CAD 0.16 per unit for gross proceeds of CAD 640,000 for total aggregate proceeds of up to CAD 1,720,000 on June 16, 2025. Certain directors of the Company are expected to participate in the Offering and acquire an aggregate of approximately 200,000 Units. Each unit is comprised of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of CAD 0.25 per share for a period of 12 months following the closing date of the private placement. All securities issued pursuant to the private placement will be subject to a statutory four month plus one day hold period. Completion of the offering is subject to the receipt of all necessary approvals including acceptance of the TSXV. The Offering may be completed in one or more tranches. The Company may pay finder's fees in connection with the Offering to eligible arm's length parties in accordance with the policies of the TSX Venture Exchange. Such finder's fees may consist of a cash commission equal to up to 6% of the gross proceeds raised from subscribers introduced by the
finder and finder's warrants equal to up to 6% of the securities sold to such subscribers. Each finder's warrant will be exercisable into one common share of the Company at a price of CAD 0.16 for a period of 12 months from the date of issuance. New Risk • Apr 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.9m free cash flow). Earnings have declined by 54% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$28.6m market cap, or US$20.5m). Announcement • Oct 31
Tower Resources Ltd. announced that it has received CAD 2.157 million in funding On October 30, 2025, Tower Resources Ltd. closed the transaction. The company issued 6,228,000 flow-through shares at an issue price of CAD 0.25 for gross proceeds of CAD 1,557,000 in its final tranche. Under the offering, the company issued a total of 8,628,000 common shares. In connection with the final tranche, the company paid finder’s fees of CAD 92,100 in cash equal to 6% of the gross proceeds raised and issued 368,400 compensation warrants exercisable at CAD 0.25 until October 30, 2026 equal to 6% of the total number of common shares sold to a qualified non-related party, in accordance with the policies of the TSX Venture Exchange. All securities issued under the first tranche, including securities issuable on exercise thereof, will be subject to a hold period expiring March 3, 2026, in accordance with the rules and policies of the exchange and applicable Canadian securities laws. 
